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LiveXLive Media reported a record revenue of $14.6 million for Q2 fiscal 2021, a significant increase from $9.6 million in Q2 fiscal 2020, driven by enhanced advertising and pay-per-view sales. Despite recording a net loss of $10.2 million, the adjusted operating loss narrowed to $1.4 million, an improvement from the previous year. The company raised its fiscal 2021 revenue guidance to $63.5 - $69.5 million and targets an annualized contribution margin of 30% - 35%. The total paid subscriber count rose to 936,000, reflecting a 21% year-over-year growth.
PodcastOne, a subsidiary of LiveXLive Media (Nasdaq: LIVX), announces the appointment of Ilana Susnow as Head of Marketing and Audience Development. Based in New York City, Susnow will be responsible for marketing initiatives across PodcastOne's extensive podcast network, including notable shows such as The Adam Carolla Show and The LadyGang. Her role involves developing marketing strategies and audience engagement to enhance listener growth and ad revenue. Susnow, formerly with E.W. Scripp and NBCUniversal, brings a wealth of experience to the position.
LiveXLive Media (NASDAQ: LIVX) announces its first awards show, The Lockdown Awards, airing on December 11, 2020. The event will celebrate the best content created during the pandemic, enhancing live streaming and home entertainment. Featured artists include Ally Brooke, Avenue Beat, Icona Pop, Sofi Tukker, and Wiz Khalifa. The awards will include live performances, celebrity appearances, and VIP digital meet and greets. LiveXLive has streamed over 1,500 artists in 2020, positioning itself as a leading platform for live streaming events.
LiveXLive Media (NASDAQ: LIVX) has launched a 24-hour linear music channel on SLING TV, enhancing its distribution of live and on-demand content. The service is free, requiring no account or credit card, and features a broad range of content from established and emerging artists, including original shows and events. This partnership aims to boost advertising revenue and brand awareness. LiveXLive reports an 8% viewership increase for its OTT channels, indicating strong audience engagement.
LiveXLive Media (NASDAQ: LIVX) has announced it will disclose its second-quarter financial results for the fiscal year 2021 on November 16, 2020, after U.S. markets close. The event will occur at 4:30 PM ET and will be followed by a conference call where senior management will discuss the results and operational highlights. LiveXLive is a leading platform for livestream and on-demand content, including music and podcasts, and has established itself as a key partner in digital entertainment, streaming over 1400 artists since January 2020.
LiveXLive Media (NASDAQ: LIVX) announced its participation in two virtual investor conferences on November 10 and November 19, 2020. The management will present at the JMP Small Cap Tech Forum at 2:30 PM ET on November 10 and the Sidoti Virtual Microcap Conference at 2:30 PM ET on November 19. The events will include virtual webinars and one-on-one meetings. LiveXLive, a platform for livestream and on-demand content in music and entertainment, has recently raised its revenue guidance for fiscal year 2021, reflecting strength in its operations and strong content engagement, with over 90 million views in 2020.
LiveXLive Media (NASDAQ: LIVX) has partnered with REVOLT MEDIA & TV for a special edition of its series Music Lives ON, airing on October 30 at 8:00 pm ET. The event will showcase performances from artists like Dess Dior, Pell, and Austin Millz, among others. Viewers can engage through LiveXLive and REVOLT's platforms, enhancing community interaction. Additionally, live viewing parties will be hosted in New York and Chicago, featuring local talents. This collaboration aims to expand LiveXLive's audience reach and strengthen its brand presence in the music entertainment space.
LiveXLive Media, Inc. (NASDAQ: LIVX) announced its intention to acquire Custom Personalization Solutions, LLC (CPS) in an all-stock transaction valued up to $6 million, expected to close by December 31, 2020. CPS specializes in personalized merchandise and recorded approximately $19 million in revenue in 2019. This acquisition will allow LiveXLive to leverage its audience and industry relationships to enhance its commerce capabilities, particularly in the growing $400 billion licensed merchandise market. The deal aligns with LiveXLive's strategy to integrate social commerce with its content offerings.
LiveXLive (NASDAQ: LIVX) has partnered with REVOLT TV to livestream the REVOLT Summit x AT&T from October 23-25, 2020. This virtual event will showcase prominent figures in Hip-Hop, including DaBaby, Killer Mike, Saweetie, and Tyga. The summit aims to address cultural issues relevant to young Black artists and leaders. LiveXLive continues to expand its platform, having achieved over 90 million livestream views in 2020 and offering substantial multimedia content across various platforms.
LiveXLive Media (NASDAQ: LIVX) has partnered with Daymond John to livestream Black Entrepreneurs Day presented by Chase for Business on October 24, 2020. The event will feature discussions with prominent black business leaders, performances by Chance The Rapper and Questlove, and provide significant financial support through the NAACP Powershift Entrepreneur Grant totaling $225,000. This initiative aims to inspire the next generation of entrepreneurs and will be available on multiple platforms, marking a strategic move for LiveXLive in the entertainment space.
